AP Automation - Save Time, Increase Efficiency
What do you like best?
Ease of use, workflow and audit trails are by far my favorite features of Beanworks. It's intuitive so that with little or no training, an end use can log in, upload an invoice and set things in motion for bill payment. The workflow allows all stakeholders to see the status of an invoice and the audit trail provides transparency to the entire lifecycle! It eliminates all the manual chasing down of an invoice.
What do you dislike?
The only drawback is the cheque issuance comes from the United States so the time between approving and releasing a payment to having the cheque reach the payee can be lengthy due to international post.
Recommendations to others considering the product:
I highly recommend Beanworks for any Finance Department who wants to gain greater efficiencies in managing their AP. It eliminates much of the manual work of my department. Invoices are uploaded by the owner of the invoice who can use "smart codes" to easily code invoices, workflow directs it to the appropriate party for approval, Finance reviews to ensure compliance to cut-off dates and tax capture. The workflows in Beanworks directs the invoice for payment execution while providing the right level of controls based on our organization's policies. Efficient, transparency, controlled and ease of use...a great product for our organization!
What problems are you solving with the product? What benefits have you realized?
Great efficiency...eliminates unnecessary manual chasing down of items....who's has the invoice? what stage is at it? when was it paid? all stakeholders have completely transparency. Furthermore for year end, we eliminated the need to search, print, send audit samples to our auditors. We have the option of emailing the electronic invoices already in Beanworks or giving them enquiry access to obtain the samples!
